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The power of local: How Innisfil is fuelling economic growth and retaining top talent

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The power of local: How Innisfil is fuelling economic growth and retaining top talent

How one small town is paving the way for sustainable regional growth


Innovation and entrepreneurship are not just buzzwords, they are the driving forces behind economic growth and opportunity. While big urban cities have been the traditional hotspot for startups to thrive, the notion of a startup hotbed being limited to bustling metropolitan centers is rapidly changing. Now, rural communities across Canada are demonstrating that they, too, have the potential to cultivate successful businesses and retain top talent.

Jelmer Stegink, Program Director of DMZ Innisfil, at DMZ Innisfil office.

Take Innisfil, Ontario, as the perfect example — a small town in Canada that faced the challenge of 82% of its residents leaving town for work every day. The town’s Mayor, Lynn Dollin, and her team recognized the need to create and support the jobs of tomorrow right in their own backyard. “Prior to the pandemic there was this misconception that founders needed to live and work in the GTA in order to tap into innovative resources, peers and programming,” says Mayor Lynn Dollin. “So in rural communities like ours, residents felt they had to spend hours in traffic to drive to a congested City to do their business.”

Enter Innisfil’s partnership with DMZ, the world’s leading startup incubator. Since its launch in 2020, DMZ Innisfil has successfully supported more than 35 local entrepreneurs to develop and grow their businesses, raising $10M in growth capital through DMZ programming and generating $1M+ in revenue.

But the real story here is how Innisfil has embraced entrepreneurship and innovation. By investing in programming to help business owners thrive, Innisfil has set a benchmark for how rural Canadian towns can encourage citizens to advance their local economy while creating the future they want in their hometown.

 “Through delivery of the DMZ Innisfil program over the past few years we’ve been able to demonstrate that innovation is a mindset, not a geography, and rural areas have just as much creativity and ambition as our urban counterparts,” says Dollin. “By bringing together like-minded entrepreneurs through DMZ Innisfil programming and events we’ve seen local founders flourish, enjoying better life work balance by the lake all while accessing world-class mentorship and support.”

The power of collaboration and support cannot be underestimated. One shining example of this synergy is the incredible success story of Fractional SaaS, a dynamic startup that found its footing with the invaluable assistance of DMZ Innisfil.

For founder Andrew Rains, the decision to move to Innisfil in 2018 was driven by a desire to seize emerging opportunities and raise a family. Little did he know that this small town was on the brink of an entrepreneurship revolution. 

When the pandemic struck, the Town of Innisfil faced a myriad of issues that demanded innovative solutions. DMZ, in partnership with the Town of Innisfil, launched a competition to address these challenges brought on by COVID restrictions. Fractional SaaS rose to the occasion by submitting a successful operations management solution in response to the Town’s call for better boat management at their marinas. This milestone became a turning point for Fractional SaaS., as it not only showcased their capabilities but also provided an opportunity to make a meaningful impact within the local community.

Fractional SaaS revolutionized marina operations in Innisfil, earning acclaim from the Town for their impactful solutions. They have expanded their services to other municipalities, positioning themselves as trusted partners for local governments. With DMZ Innisfil’s ongoing support, Fractional SaaS is poised for even greater accomplishments, connecting their team with the right people at the right time.

Fractional SaaS’s success story exemplifies the power of collaboration, with DMZ Innisfil playing a pivotal role in their journey as they continue to make a lasting impact, propelling innovation and community empowerment for different rural regions. 

 “Rural communities have become fertile ground for entrepreneurial growth. The notion that thriving innovation ecosystems are exclusive to major cities is now a thing of the past. Through my journey with Fractional SaaS, I’ve witnessed firsthand the hunger and the untapped potential in these communities. With the invaluable networks, resources, tools, and connections provided by DMZ Innisfil, startups are empowered to thrive and succeed!” –  Andrew Rains, Co-Founder of Fractional SaaS. 

Fractional SaaS is just one success story out of many. DMZ Innisfil is proud to welcome their most recent cohort of innovative businesses: What’s For Dinner Today, Behind Every Home Inc. o/a siikafoods, Directline Telecommunications, NewRidge Refinishing Group, Innisfil BJJ, MuniPaaS, NT Temps, Moon Cafe and Craft Beer, Roof Rejuvenation, Local Plumbing & Drains, Innisfil Wellness, and DriVR Academy.

Innisfil’s success shows that entrepreneurs no longer need to leave their hometowns to build successful businesses. Through their partnership with DMZ, they have developed tailored, localized entrepreneurship programming with a global mindset.

Check out just a few ways DMZ Innisfil is delivering big city resources to their town:  

  • Community: A vibrant community of like-minded entrepreneurs and business pros where you’ll feel right at home 
  • Mentorship: Expert guidance and support from Experts-in-Residence, an in-house legal team, and a network of peers who are driven to succeed
  • Fundraising: Connect with investors, unlock exclusive grants and get the chance to pitch at high-profile events like Collision.
  • International connections: Plug into DMZ’s global network of incubators in 10+ countries around the world for resources and introductions in new markets.  

Rural municipalities are often focused on building strong and vibrant communities that provide opportunities for growth and development while retaining the best and brightest talent. Recognizing this, DMZ champions municipalities by working with them to design tailored business support programming, empowering them to help their community capitalize on global resources while focusing on local economic growth.

The story of Innisfil’s success is a reminder that great ideas can come from anywhere and that the future of entrepreneurship is not limited to large urban centers. 

If you’re a municipal leader looking to empower your small business owners with the tools and connections to become world-class ventures while staying integrated within your local communities, DMZ is here to help. We’re committed to bringing innovation and entrepreneurship to all corners of Canada.

Applications for DMZ Innisfil’s Startup Incubator program close on July 21, 2023. Don’t wait – apply here. Interested in learning more? You can find out more about DMZ Innisfil here and more about the DMZ here.

 

2023 federal and provincial budget digests

How the 2023 federal and provincial budgets will impact the startup and innovation economy

 

In March, the federal and provincial governments unveiled their highly-anticipated budgets. With both plans moving from COVID-19-specific funding and focusing on lightening deficits and combatting inflation, we now have glimpse into what the road to a more robust economy looks like.

DMZ has reviewed the Ontario provincial and federal government budgets and identified key commitments that impact the startup and innovation economy.

Here’s what you need to know about both budgets:

Federal budget highlights

The full federal budget can be found here.

Small business support

  • Lowering credit card fees: The federal government has reached an agreement with Visa and MasterCard to reduce credit card fees by up to 27%.
    • This reduction will help small businesses save $1 billion over the next five years.

Innovation

  • Canada Growth Fund: The government intends to introduce legislation to enable the Public Sector Pension Investment Board to manage the assets of the Canada Growth Fund to deliver on the Growth Fund’s mandate of attracting private capital to invest in Canada’s clean economy.
  • Supporting Canada’s leadership in space: The government invested just under $2.8 billion to get Canadians — and Canadian technology — into space, onto the moon and beyond.
  • Canada Innovation Corporation: The government invested $2.6 billion for the new Canada Innovation Corporation, which will support Canadian businesses in investing in research and development.
  • Scientific Research and Experimental Development Tax Incentive: The Department of Finance will continue to engage with stakeholders on the next steps of the SR&ED program to ensure it is providing adequate support and improving the commercialization of intellectual property.

Transition to the green economy

  • Clean electricity investment tax credit: A 15% refundable credit to support non-emitting generation systems, storage and transmission.
  • Clean technology manufacturing: A 30% tax credit for new machinery and equipment used to manufacture or process key clean technologies and extract key critical minerals.
  • Clean hydrogen: Up to 40% tax credit for projects producing clean hydrogen.
  • Strategic Innovation Fund: A $500 million commitment over 10 years to support the development and application of clean technologies in Canada.
  • Smart Cities Challenge: The government will be launching a new round of the Smart Cities Challenge later this year, which will focus on using connected technologies, data, and innovative approaches to improve climate resiliency.

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Provincial budget highlights

The full provincial budget can be found here.

Innovation

  • Underserved entrepreneurs: Investing an additional $15 million over three years for the Racialized and Indigenous Supports for Entrepreneurs (RAISE) Grant Program that includes support for Indigenous, Black and other racialized people, as well as an additional $3 million in the Black Youth Action Plan
  • Innovation hubs:
    • Providing an additional $1 million per year for three years to Invest Ottawa, starting in 2023–24, to expand into a Regional Innovation Centre hub for Eastern Ontario.
    • Committing an additional $2 million in 2023–24 to Futurpreneur Canada.
    • Providing $4 million in 2023–24 to support the City of Brampton in attracting more entrepreneurs and business investment to help drive economic growth.

Skills development

  • Mitacs: Investing an additional $32.4 million over the next three years to support 6,500 high‐quality research internships through Mitacs.
  • Skills Development Fund: Providing $224 million in 2023–24 for a new capital stream of the Skills Development Fund to leverage private-sector expertise and expand training centres.

International talent

  • Ontario Immigrant Nominee Program: Enhancing the Ontario Immigrant Nominee Program with an additional $25 million over three years to attract more skilled workers, including in-demand professionals in the skilled trades, to the province.
  • Ontario Bridge Training Program: Expanding the Ontario Bridge Training Program with an additional $3 million in 2023–24 to help internationally trained immigrants find employment in their fields and get faster access to training and support towards a licence or certificate.

Manufacturing

  • Ontario-made tax credit: A 10% refundable Corporate Income Tax credit to help local manufacturers lower their costs, invest in workers, innovate and become more competitive.

Business savings for Ontario employers

  • Tax relief for small businesses: Improving competitiveness by planning to enable an estimated $8 billion in cost savings and support for some Ontario employers in 2023, with $3.6 billion going to small businesses.
    • This would provide Ontario’s small businesses with additional Ontario income tax relief of $265 million from 2022–23 to 2025–26.

Electric vehicle investments

  • Electric vehicles (EV): Attracting over $16 billion in investments by global automakers and suppliers of EV batteries and battery materials to position Ontario as a global leader in the EV supply chain.

Are you a founder trying to navigate the startup ecosystem? Learn more about programming DMZ offers here.

What contracts do you need for your startup?

This is a DMZ guest blog by Konata Lake and Wendes Keung of Torys LLP.

Building a startup is challenging. You need to balance cash flow control, product development, go-to-market strategies, talent, branding and working in perpetual ‘go’ mode. And then there is the back-end work—the part that you don’t look forward to—financial records, information management systems, documents, policies and procedures, and, of course, contracts. Although a good contract doesn’t feel quite as rewarding as building your product or closing a deal, it’s an essential building block for a successful startup.

The best contracts are always ones that are drafted with your product, business model and consumer base in mind. Early-stage startups can be tempted to use online templates, but templates can leave you vulnerable. Most templates favour one side or are drafted ambiguously in a way that leaves interpretation up for debate.

We thought we would break down a few key contract non-negotiables to always keep in mind.

Your service offering and crown jewels

  • Services: The agreement should clearly describe the services that will be provided and what is included or excluded as part of the project scope. For example, will your service include software licenses, hardware, software, professional services, training, installation/integration, or maintenance and support? The agreement should be clear about allocating responsibilities, development milestones, and milestone deadlines.
  • Intellectual property: Your intellectual property (IP) is your most valuable asset. Investors will closely scrutinize your IP clauses to confirm that you actually own your IP. Here’s what to look out for:
    • Effective license rights if you are licensing your IP to customers via service agreements or if you require the customer’s data to deliver the services. 
    • Ensure your IP clauses in employment agreements and independent contractor agreements are clear about ownership. In Canada, the default for IP ownership developed by an employee is ownership by the company unless the contract says otherwise— however, the opposite is true for contractors and consultants.

Managing data

  • Confidential information: The definition of confidential information typically covers any information disclosed by or on behalf of a party to the other party that is marked as confidential or that reasonably should be understood to be confidential. Confidentiality terms are crucial to ensure that the person you are negotiating with won’t steal your secrets.
  • Customer data: If you are dealing with customer data as a part of your service, be prepared to answer questions on privacy and security. Customers will likely want to know the security requirements you have in place to protect their data. If you will be collecting, accessing, using, or disclosing personal information, consult a privacy expert to ensure that you’re compliant with appropriate privacy laws. Certain jurisdictions, such as the EU, UK, Switzerland and California, have specific requirements that companies must follow if they deal with individuals in those jurisdictions.

Mitigating risk exposure

  • Disclaimers: Disclaimers notify your users that you will not be held responsible for certain damages from their use of your website, products, or services. They need to be carefully structured to have legal effect. One that is too broad may be struck down by a court as ineffective. Well-crafted disclaimers go a long way in protecting a business from liability.
  • Indemnification: Put simply, an indemnification clause requires one party to compensate the other for putting that party in harm’s way. For example, if you are a software developer, your customer may ask you to indemnify them if they receive a copyright infringement claim for using your software. You would be asked to “step in the shoes” of the customer and manage the dispute. If you agree to offer an indemnity, you should limit the categories of claims that you are willing to indemnify for, put caps on the damages and consider purchasing insurance as a way to limit your financial risk and exposure. 
  • Limitation of liability: Limitation of liability clauses allow parties to limit the amounts owed by one party to the other in the face of a claim. The type of damages due or claims brought can be limited. This allows a party to avoid a “bet the business” situation by allocating risk between the parties. There are typically three parts to a limitation of liability clause to look out for: 
    1. Waiver of Indirect Damages: This clause states that a party will not be liable for any indirect damages that arise under the agreement, including any damages for lost revenue, lost savings, or lost profits. 
    2. Cap on Direct Damages: Agreements typically limit the maximum amount of damages that can be claimed as direct damages. This amount is typically tied to the fees paid under the agreement. 
    3. Exclusions: The parties may agree to exclude certain types of damages from the above circumstances. If these types of claims occur, whether directly or indirectly, the party will be exposed to unlimited liability. Parties will typically negotiate excluding claims for gross negligence, willful misconduct or fraud.  
  • Governing law & forum: The agreement should state what substantive law governs the rights and obligations of the parties and which country’s courts will hear disputes. You should consider the most practical and convenient jurisdiction if a dispute arises. If you choose a jurisdiction that is not your home court, make sure you are comfortable with their procedural system and how difficult it may be to enforce a foreign judgment domestically.

How you do business

  • Subcontracting: A contract is between two parties, and typically the rights and obligations under the contract cannot be imposed on a third party. However, third parties can sometimes be brought under a contract. For example, a subcontracting clause can be used to allow a party to assign or outsource parts or all of the obligations under a contract to a third party. You may need to rely on this clause if you have a third party hosting provider or even independent contractors working for you. Take note of language that requires you to obtain the customer’s consent before subcontracting (or to notify the customer in advance). 
  • Non-solicitation: As an early-stage company, almost all of your employees directly impact the bottom line. Non-solicit clauses protect your employees from being poached by a customer. The clause should define the timeframe, be limited to employees related to the services being provided under the agreement, and exclude situations where an employee responds to a general recruitment advertisement. 
  • Assignment: An assignment clause governs whether and when a party can transfer the contract to a third party. While agreements typically limit the ability of a party to transfer the contract without some form of prior consent, startups should ensure there is language that permits it to assign the agreement to a purchaser of its assets or shares without consent.

Many startups offer game-changing products and services to solve inefficiencies in the market, but overcoming the growing pains of launching a startup isn’t easy. A well-thought-out risk management tool often makes the difference between a successful startup and a struggling one. Good contracts are part of your risk management toolbox. A great technology contracting lawyer should be able to leverage sector knowledge and their own experience to advise you on which terms are negotiable and what is market in the industry.

Are you a startup founder with contract questions for Torys? Reach out to Wendes Keung today to get your questions answered.

Top tech journalists to follow right now

When it comes to staying on top of the latest industry trends, and startup wins, following the right tech journalists can make a world of a difference.


Keeping up with where the tech space is headed, startup raises in the field, acquisitions, government initiatives and thought-provoking commentary will not only keep you informed but allow you to make better business decisions.

Here’s the DMZ’s top-ten tech journalists to follow right now:

Sean Silcoff | Technology Reporter, Globe and Mail
Focus: technology and innovation

From startup raises, government initiatives, acquisitions and emerging industry trends, Sean Silcoff is known as one of the GOAT reporters at the Globe.  He is the winner of three national newspaper awards and is the co-author of Losing the Signal: the Spectacular Rise and Fall of BlackBerry, which was released in May 2015.

Looking for in-depth, objective and emerging tech news? Look no further than Sean.

 

Tara Deschamps | Business Reporter, Canadian Press
Focus: business, technology, real estate
 


Tara Deschamps currently writes for  the Canadian Press and is no stranger to major outlets, including the Toronto Star, the Globe and Mail, and the New York Times. Oftentimes bringing in a startup perspective, the bilingual reporter has covered various topics in the business sector, from technology to banking and insurance, retail and food. 
If Tara Deschamps is one thing, it’s versatile.

 

Rebecca Gao | Tech Update, Toronto Star
Focus: technology

Rebecca Gao wears many hats, three of them being a writer, an editor, and a digital content creator. These hats also include being Editor-In-Chief of the Strand and an Associate Editor at Best Health Magazine. She is also the master mind behind your bi-weekly innovation tech updates. 

Explore Rebecca Gao’s technology hat through Toronto Star’s Tech updates.

 

Meagan Simpson | Senior Editor, Betakit
Focus: Canadian technology
 

Meagan Simpon has over 6 years of experience in the journalism and technology industries. Meagan is passionate about helping startups and entrepreneurs reach their goals, and works to share their stories with BetaKit’s readers. Her work has appeared in the Globe and Mail, Toronto Star, CBC, Techvibes, and many others.

Turn to Meagan Simpson and take pride in the Canadian tech scene.

 

David Skok | CEO & Editor-In-Chief, The Logic
Focus: innovation economy

David Skok has over 15 years of experience in the media industry, having worked as a reporter, editor, and content strategist. He has an extensive background in media strategy, content creation, and digital publishing. A big name in journalism, he sits on the advisory board of the Nieman Foundation for Journalism at Harvard and as a juror for the Pulitzer Prizes in journalism. 

High-quality reporting and analysis might as well be David Skok’s middle names.

 

Lance Chung | Editor-In-Chief, The Bay Street Bull
Focus: Canadian entrepreneurship

Recognized as one of the top Canadian financial journalists by Canadian Business Journal, it only makes sense that Lance Chung is the architect and  behind renowned publication Bay Street Bull. His two decades of experience award him expertise in stock markets, currency markets, and macroeconomics.

Looking for reads that perfectly intersect Canadian business, technology, entrepreneurship, lifestyle and culture? Look no further.

 

Temur Durrani | The Globe and Mail
Focus: creator economy, Big Tech, Web3
 

Temur Durrani has reported from five continents, publishing work in the New York Times, the Guardian, and the Washington Post. He is the recipient of numerous awards, including the National Newspaper Award, the Michener Award, and the Canadian Journalism Foundation Award.

Objective journalism, informed by his unique perspective as a South Asian-Canadian, is the name of Temur Durrani’s game.

 

Camille Dundas | Co-Founder, Editor-In-Chief, ByBlacks
Focus: racial equity, Canadian businesses and entrepreneurs

ByBlacks provides a platform for Black Canadian voices to be heard and their stories to be shared. The Co-Founder and Editor-In-Chief, this venture led to Camille being named one of Toronto Metropolitan University’s “Media Makers,” an honour given to Journalism grads who have made exceptional achievements in journalism. Before ByBlacks, Camille was the Features Editor at CBC Life and, before that, the Arts Editor at NOW Magazine.

Over the course of a decade, Camille Dundas has built a career focused on creating meaningful content that engages and inspires readers.

 

Stephanie Hughes | Financial reporter, Financial Post
Focus: business news and finance

Stephanie Hughes is a financial reporter for the Financial Post, specializing in coverage of the Canadian economy. She has been covering business and economic trends since 2013, making financial news accessible to the public as an advocate for financial literacy. Her work has been recognized by the Canadian Association of Journalists and the National Newspaper Award.

All founders could use Stephanie Hughes right now as a source of insight into economic uncertainty.

 

Sarah Bartnicka | Head of Content, The Peak
Focus: business and finance, technology, economics

Sarah Bartnicka is a highly sought-after speaker on a variety of topics related to content creation, media, and entrepreneurship. She is committed to helping bring readers quality content that is both timely and engaging as Head of Content at The Peak, a five-minute newsletter on Canadian business, finance, and technology.

Wasting time is impossible with Sarah Bartnicka’s quick yet high-quality picks.

 

Want to hear our top-pick stories too? Sign up for our bi-weekly Tech Talk newsletter here!

 

 

 

 

 

 

 

 

 

 

 

Mining a recession: how tech startups can strike gold

The reality is, being a startup founder is no longer sexy. Today’s economic climate is dramatically shifting across industries — especially in tech — from layoffs and inflation to rising interest rates and a looming recession.

We all know a recession produces a range of negative impacts. However, it also presents opportunities to revolutionize and transform for those who look. The key is to be resilient, adaptable, and innovative through changing market conditions. Think Microsoft, Airbnb, Slack, and Zoom, all hugely successful companies that started during recessions. There is no question that new problems will arise, but with that, new industries, products and services will come to life — and for an entrepreneur, that’s gold.

For a long time, a startup’s ultimate goal was to achieve unicorn status, characterized by rapid growth and high valuations. In today’s climate, operating with this mindset isn’t realistic nor sustainable — inflated company evaluations do no favours to startups, especially on the heels of a recession. Instead, companies need to embody the camel, a future-orientated animal that conserves its resources to endure harsh conditions and adapt to any environment. This concept was originally coined by venture capitalist Alex Lazarow, who encourages startups to focus on building resilience and flexibility to survive and prosper long-term.

Want to strike business gold? Here’s how to embrace the camel mindset to set your company up for long-term success.


Be bullish.

Problem: Startup originality is rare. As the number of tech businesses grows, it is increasingly more work for startups to differentiate from the competition and offer truly innovative products, services and value. A more saturated market means increased competition for funding, customers and talent, leading some companies to replicate already successful business models.

Opportunity: With a recession comes new consumer needs and new problems. Now is the time to be proactive and address these needs. Stand out to investors and tap into new customer segments with a unique offering.

  1. Look for untapped needs: Be more obsessed with the problem than the solution. Identify problems that still need to be addressed or solved effectively. Unique problems = unique solutions.
  2. Seek out diverse perspectives: Look beyond your industry and sector; connect with people with varied backgrounds and experiences to gain fresh insight.
  3. Experiment: Don’t be afraid to take calculated risks and experiment with different approaches.


Optimize your human capital.

Problem: Layoffs and financial insecurity may hit your company – a recession is the time to feed the winners and cut those who are underperforming. It’s easy for team members to feel discouraged and disconnected from a company’s mission. Your company is your community; nurturing your culture in challenging times is more important than ever.

Opportunity:

  1. Prioritize honest communication: Be transparent about your startup’s position; open communication is vital to trust. Involve all levels in finding solutions to create a shared sense of purpose and belonging.
  2. Recalibrate your team: Build the right data systems, structure and practice to improve quality assurance, program execution, and team communications. This also means a smarter team to help deliver what is needed now.
  3. Remove silos: Encourage cross-functional collaboration and create opportunities to connect through events, lunches, team-building exercises, etc. Measure success and failure as a collective.
  4. Show appreciation: Recognize and reward your team for their contributions. Boosting morale is key to culture, motivation, and productivity.


Get scrappy.

Problem: Funding has always been challenging to secure as a founder, especially with the recent boom of tech startups. Throw economic uncertainties into the mix, and you have a recipe for dry capital as investors like Venture Capitalists (VCs) and Angels become more risk-averse to investing in new startups.

Opportunity: Finesse your business strategy and get scrappy.

  1. Focus on your competitive edge: Execute a clear, well-defined value proposition that demonstrates your startup’s advantage in the market.
  2. Showcase your adaptability and leadership: Investors are interested in companies that can adapt to a changing economic environment. Highlight your leadership skills, from navigating the recession to making smart business decisions.
  3. Build relationships with investors: Establish relationships before seeking funding to understand their criteria better and increase your startup’s visibility.
  4. Consider alternative financing options: Now, many financing options are available for startups with lower barriers to entry and greater flexibility. These include crowdfunding, grants, revenue-based financing, debt financing, and incubator and accelerator programs like the DMZ.

Facing a recession as an entrepreneur can be daunting, but you don’t have to do it alone. Join a startup incubator like the DMZ and participate in a community of diverse startups, mentors, and industry experts. Access resources like office space, funding, mentorship, and networking opportunities to refine your business with expert guidance.

Check out how the DMZ can help propel your business forward, even in the most challenging times here.

Want to stay up to date on the latest tech news? Sign up for the DMZ’s Tech Talk newsletter.

Your 2023 Manifestation Guide to Founder Success

This is the sign you’ve been looking for.

If you’re an avid social user — or even an occasional scroller — you’ve likely heard of manifestation. What is believed to have started as a Hinduism practice has now turned into a worldwide phenomenon trickling into the world of business.

So, what is manifestation? Simply put, manifestation is the practice of turning thoughts into reality. It requires you to be intentional with your emotions, beliefs, habits, and of course, actions. But it’s not as easy as it sounds.

Whether you believe in manifestation or see yourself as more of a goal-setter, there’s no denying the power of positive intent followed by disciplined action. Dreaming is one thing, but the day-to-day grind of a startup can be dark and challenging.

If you’re ready to hustle, keep reading to discover your 2023 manifestation guide to founder success.

Let your mind wander

Ever catch yourself daydreaming about your startup becoming the next big thing? What about securing a million-dollar funding round or landing your next big client? Don’t stop! Exercising your brain to get excited about the future is key to manifesting. Take a few moments each day to sink into your daydreams and discover what truly fuels your passion.

“When you’re passionate about your dreams, it doesn’t feel like work. Organize your life around your passion, turn your passion into your story and use that story to leave a legacy.” — Ahmer Rafiq, CEO, Souqh

Be intentional with your goals

How can you map your aspirations? Goal-setting looks different for everyone — but whether you create a detailed Excel sheet, draw up a mind map, or jot down notes in your journal, being intentional is key. Set SMART goals (Specific, Measurable, Achievable, Relevant, and Time-Bound) to achieve your desired outcome, and don’t forget to stay disciplined.

Fail quickly, learn fast

As a founder, there’s no question you’re going to fail — we all do! While it may seem like the end of the world, failure truly is the secret ingredient to success. Think of failure as a tool that helps uncover next steps by telling us exactly what’s working and what’s not. After all, Yin doesn’t exist without Yang.

“With every failure, I’m one step closer to success.” — Kelly Emery, Founder & CEO, Troop

Stay positive

Turn “I wish” phrases to “let’s do it” and “what if I fail?” to “when I succeed.” Focusing on the negative is easy, especially as a founder who inevitably hits what feels like every bump in the road. When you catch yourself drifting to that place of negativity, shift your mindset to practice gratitude and confidence. There’s nothing more powerful than believing in yourself and your business.

“Success is not defined by the end result – within every initiative, you will find an opportunity to grow, to learn and to push yourself one step closer to your goals and your success.” — Ahmer Rafiq, CEO, Souqh

Put yourself in the driver’s seat

Be accountable and disciplined. Of course, the most essential practice in manifestation is action. Joining an incubator like the DMZ helps hold founders like you accountable to your goals and provides a playbook to put dreams into action. Take ownership. You got this.

“I meditate daily, allocate time for sales calls, and have regular touch points with advisors who hold me accountable.” — Kelly Emery, Founder & CEO, Troop

 

Can you really manifest your startup dreams? Try it.

If you’re looking for a sign to join the DMZ, this is it. Check out our programs here.

DMZ’s Year in review: Coffee, capital and community

The stats are in! Let’s take a look at our feats this past year.

After an eventful 2022, the DMZ is taking a step back to appreciate all we’ve accomplished this year alongside our community and supporters — from onboarding startups to launching new programming and international expansion.

Scroll and reminisce with us!
Note: These are stats as of November 1, 2022.

Our coffee machine is one of the most popular amenities at the DMZ! It’s clearly a community favourite, with an estimated 10,438 coffees made in 2022.

Up, up, up, and away — startup fundraising numbers surged to a whopping $258,672,261 this year!


That’s right — six DMZ companies were acquired in 2022 (Sensibill, Gridcure, GrowthGenuis, InkBox, Fortuna, OnCall), and three acquisitions were made by DMZ companies: Singlekey acquired Naborly, Manzil acquired Muslim Will, and Daylight Automation (formerly known as FormHero) acquired Proof Data Technology.

Start spreading the news! In October 2022, The DMZ re-opened in New York City — a tech ecosystem valued at $147 billion — to continue empowering the next generation of global startups.

Let’s network! In 2022, the DMZ brought together over 1500 attendees in 40+ events in the tech ecosystem.

Our community had a ton of media traction over the past year. The DMZ had 2.39K+ features in the media, and our DMZ startups had an enormous media presence with 36k+ highlights.

Startups come and go at the DMZ, but they always leave an imprint in our community. This year, 357 startups graduated from DMZ programs, including Startup Certified (38 students), Basecamp (22 companies), NEP (27 companies), Launchpad (86 students), Incubator (8 companies), AMEX Blueprint (100 companies), Pre-Incubator (45 companies) and BIP Connections (31 companies).

The DMZ stays busy! This year, we ran programming for multiple existing programs: BIP Social Impact Stream fuelled by Unilever Canada, Black Innovation Connections with Dream Legacy Foundation, Launchpad for Entrepreneurs powered by Desjardins and AMEX Blueprint powered by the DMZ.

In addition, we housed the launch of the Newcomer Entrepreneurship Program (NEP) — a virtual ideation program sponsored by the Future Skills Centre and media sponsored by Canadian Business that helps Canadian newcomers develop startup fundamentals. We also partnered with Toronto-based venture capital firm GroundBreak Ventures to launch our PropTech stream as part of our incubator program to help high-potential PropTech startups transform the real estate landscape.

There’s a reason we’re known as a world-leading tech incubator. This year we received over 812 global applications. We’ve still got it.

What a year! Want to take part in 2023’s stats? Discover the DMZ and our programming here. Don’t forget to sign up for our newsletter to get the latest tech news, updates, and special offers.

The DMZ’s top ten tech Twitter accounts to follow

Ready to give your Twitter feed a transformation? Want to stay in the loop on events, news, and insider tips and tricks?

The DMZ has created a curated list of people and organizations to keep tabs on, whether you’re looking for bite-sized updates or advice on which market to break into next. After all, success is often about who you know – or in this case, who you follow.

1. Tech Crunch | @TechCrunch

You’ve probably heard of it before, and for good reason. Tech Crunch is one of the leading platforms for technology-related updates catered to founders and startups. Here you can find real-time breaking news and insightful analysis from the best in Silicon Valley and around the world.

Disney strikes a big adtech deal with The Trade Desk as Disney+ expands into ads https://t.co/VmkYeLdqnM by @laurenforristal

— TechCrunch (@TechCrunch) July 12, 2022

2. BetaKit | @BetaKit

The only independent tech innovation publication in Canada, BetaKit aims to report on the people involved in building the next generation of Canadian tech companies. Through their account, you can be the first to read new stories and get job opportunities delivered right to your Twitter feed, or email inbox if you’re subscribed to their weekly newsletter.

Small and medium-sized businesses may not have deep pockets but they might be surprised to know that a few basic tools and protocols can successfully mitigate 99 percent of cyber attacks. https://t.co/NhCylQRqFE

— BetaKit (@BetaKit) July 11, 2022

3. Emily Chang | @emilychangtv

Emily Chang is a prominent face in tech journalism. As the anchor and executive producer of Bloomberg Technology, you can find some of the biggest news stories in the tech world on her account, along with snippets of interviews she holds with leading executives, entrepreneurs and investors.

If you watch one thing about the Google/AI/feelings debate, watch this 10 mins with @mmitchell_ai re: Blake Lemoine aka @cajundiscordian

Full convo: https://t.co/wMArRzf16O https://t.co/D8PMsnBT5t

— Emily Chang (@emilychangtv) June 18, 2022

4. Business Insider Tech | @BITech

Popular news outlet Insider has a specific account dedicated just to their articles related to tech. Their slogan “What you wanna know” speaks for itself – with updates on major events and relevant and unique industry trends and analyses that you probably won’t find on other tech media giants.

Bill Gates’ VC fund and Intidex just led a $30 million round into Circ, a startup that slashes emissions from fast fashion. Check out the 11-slide pitch deck it used to raise the funds. https://t.co/ZAPEA8x34P

— Business Insider Tech (@BITech) July 12, 2022

5. The Next Web | @thenextweb

Based in Amsterdam, The Next Web is a tech Twitter staple that has been updating its followers on a variety of sub-sectors within the industry, with news from North America, the EU and so much more. Their occasional job postings and TECH TIP OF THE DAY guarantee that you can use their resources and put them to use.

It’s the ultimate fight between hackers and mathematicians, and the future is at stake https://t.co/SP4BqnbPMD

— TNW (@thenextweb) July 12, 2022

6. Anil Dash | @anildash

Anil Dash is the founder of Glitch, a coder community platform that promotes co-collaboration. Outside his day job, however, is when he adds the top tech stories – and sometimes pop culture – from various outlets to your timeline. You can expect some light-hearted personal anecdotes and interactions with others in the community.

The fundamental flaw of most social platforms is a tech mindset that thinks the hard part is managing content, when the hard part is actually managing discontent.

— Anil (@anildash) July 15, 2022

7. WIRED | @WIRED

Tech veteran WIRED is many people’s go-to for up-and-coming technologies affecting any sector, whether it be culture, politics, or the economy. Get immediate delivery of their newest articles to your feed and read up on your daily commutes or breaks. Chances are someone else in the room is doing the same.

Daylight provides debit cards with your chosen name, no matter what your ID says. (From 2021) https://t.co/bU6xuBQ7J8

— WIRED (@WIRED) July 12, 2022

8. The Verge | @verge

The Verge is a multimedia platform that treats technology as the centrepiece of culture as they report on technologies changing future life in media, transportation, and science. Add The Verge to your daily news check-ups and get interesting updates that you can be the first to know about among friends and co-workers.

What if we could look into the future and see how technology will change everything — from raising pets and houseplants to how we dress, eat, date, and even how we die. Our new docuseries The Future Of is premiering on @Netflix on June 21st pic.twitter.com/h3cAgqo7Tp

— The Verge (@verge) June 13, 2022

9. Arati Sharma | @aratisharma

If you’re looking for first-hand opinions and anecdotes from someone who knows what they’re talking about, give Arati Sharma – ex-Shopify executive’s – account a quick follow. Not only are you signing up for updates from a professional and a founder (Backbone Angels), but you also get some engaging and thought-provoking tweets about BIPOC and women-founded businesses.

“More than half of South Asian women in Canada are planning to leave their jobs, study reveals”… well that’s an alarming stat. https://t.co/TVpdeYTYOp

— Arati Sharma (@aratisharma) April 20, 2022

10. The DMZ | @TheDMZ

Forgive the shameless plug, but our own DMZ Twitter account can help you stay connected to a community of entrepreneurs and stay up to date with new events, programs and news on Toronto’s and the rest of the world’s startup ecosystems. This is where you can start implementing your ideas and connect with experts.

.@FredVanVleet is helping us spread the word that Blueprint: Backing BIPOC Businesses is back! Powered by @theDMZ, the mentorship & grant program designed to support the advancement of BIPOC businesses. Applications close on July 26, 2022. Eligibility criteria & terms apply.

— Amex Canada (@AmexCanada) June 14, 2022

Looking to turn your newfound knowledge into action? Check out our programming and take your first steps to success.

2022 federal budget digest

How the 2022 federal budget will impact the startup and innovation economy.


Last week, the federal government unveiled their long-awaited budget for 2022, which outlines a number of commitments for the Canadian tech and innovation economy.

The first budget since the Liberal’s re-election last fall, the 2022 budget focuses on growing the Canadian economy while aiming to make everyday life more affordable. Working to reduce its projected deficit, a majority of the government’s new commitments are program-focused, rather than large cash injections. 

We thought we would help out our community by breaking down the budget to highlight what should be on your radar, and how it will impact the startup and innovation economy.

The full federal budget can be found here.

AN OVERVIEW: BIG TICKET COMMITMENTS

  • Canadian Innovation and Investment Agency: $1 billion over five years towards the creation of a new agency designed to invest in innovation, research, and development. 
  • Canada Growth Fund: A $15 billion growth fund to encourage private sector investment to meet net-zero climate goals and strengthen supply chains.
  • Intellectual property: $96.6 million over five years to build a world-class intellectual property regime, by building on previous investments.
  • Scientific Research and Experimental Development (SR&ED): A review of SR&ED to eliminate paperwork needed for the program for startups. 
  • Accelerator to increase housing supply: Accelerator fund to encourage municipal governments to zone for more housing over the next five years. 
  • Dental-care and pharmacare: Plans to cover the cost of dental care for lower income Canadians and plans to create a national pharmacare program. 

INNOVATION INVESTMENTS

A new Canada Growth Fund to encourage private sector investment to meet net-zero climate goals and strengthen supply chains.

  • $15 billion in public capital over five years designed to incentivize private-sector investment in emissions reduction, economic diversification and supply-chain projects. The new program will  run at arm’s length from the government. It will make investments in businesses in firms for equity stakes, loan them money or issue financing guarantees. 

A new Canadian Innovation and Investment Agency to invest in innovation, research, and development.

  • The new agency, modelled after programs in Finland and Israel, will operate independently and will be funded with $1-billion in new spending over five years. Moreover, the government will consult further with Canadian and global experts in finalizing the design and mandate of the new agency. Furthers details will be announced in the 2022 fall economic and fiscal update.

INTELLECTUAL PROPERTY

The government has committed more investment into Canada’s national IP initiatives, including:  

  • A new national lab-to-market platform to help graduate students and researchers take their work to market;
  • Investment for the CanExport program to help Canadian businesses secure their intellectual property in foreign markets;
  • A new survey to assess the government’s previous investments in science and research, and how knowledge created at post-secondary institutions generates commercial outcomes;
  • Expanding ExploreIP, Canada’s intellectual property marketplace, so that more public sector intellectual property is put to use helping Canadian businesses; and,
  • Expanding the Intellectual Property Legal Clinics Program, which will make it easier to access basic intellectual property services.

SR&ED REVIEW FOR STARTUPS

A review of the scientific research and experimental development (SR&ED) tax incentive, assessing whether it’s effective in encouraging R&D that benefits Canada will be done. Additionally, the government is considering instituting a patent-box regime to ensure ideas generated domestically turn into IP that stays here.

  • Startups have long complained about the amount of paperwork involved with accessing SR&ED, and the assessment could translate to startups receiving higher payouts from SR&ED, or at least less paperwork to complete. 

SUPERCLUSTERS REBRAND

The federal government is extending Canada’s Superclusters and is rebranding it to be called Canada’s Global Innovation Clusters. The budget proposes an additional $750 million into the program over six years. 

  • The Superclusters was originally created to focus on projects leveraging plant proteins, advanced manufacturing, AI and oceans. With the rebrand, the government hopes to see the Global Innovation Clusters play a role in greater projects, such as climate change.

TAX RATE EXTENSIONS FOR SMALL BUSINESSES

Taxable capital for small businesses is increasing from $15 million to $50 million. 

  • Currently, the government taxes small businesses at a reduced rate of 9% on the first $500,000 of taxable income. However, small businesses lose the reduced rate once they hit $15 million. The new budget plans to increase the taxable income limit to $50 million. 

SUPPORT FOR SMALL BUSINESSES IN HEALTH TECH 

$30 million was committed to expand the CAN Health Network, which is a national partnership comprised of leading Canadian health organizations that work to introduce new solutions into the health care system. 

  • The government hopes to expand the program nationally to Quebec, the territories, and Indigenous communities.
Are you a founder trying to navigate the startup ecosystem? Learn more about programming the DMZ offers here.

Third photo: piggybank.ca

CanHack’s impact: Inspiring Canada’s next generation of cybersecurity experts

6,156 students, 400+ highschools, $31,000 in cash prizes and counting.


Cybersecurity competition for high school students
In 2018, we teamed up with the Royal Bank of Canada (RBC) to foster the next generation of cybersecurity experts by launching CanHack. A competition for high school students, we’ve created meaningful learning opportunities for students across Canada looking to sink their teeth into cybersecurity. 

Throughout the cybersecurity challenge, students get the chance to tackle real cybersecurity challenges, learn critical computer security skills, work with experts in the field, explore an in-demand field and win cash prizes. 

As we all know, cybersecurity matters more now than ever before. We leaned on technology to keep us going through the pandemic – both personally and for business – and have become increasingly vulnerable to cyber attacks as a result.

Ensuring a cybersafe future is crucial, and it starts with investing in a future workforce that understands the fundamentals of cybersecurity and privacy.

Young Black students coding - cybersecurity competition for high school students

Together, the DMZ and RBC have ignited an interest in cybersecurity for high school students across Canada at a critical stage in their education. We’re committed to helping students dive deeper into the world of cybersecurity to empower the future of the cybersecurity workforce. 

To mark our fourth CanHack competition, we decided to take a walk down memory lane to highlight CanHack’s achievements to date.

CanHack’s impact over the years 

Since its launch 5 years ago, CanHack has already:Supported 6,156 high school students that have made up 1,567 teams from 400+ highschools and community organizations. Administered 24 workshops with inspiring cybersecurity leaders for students to get hands-on training and support. Supported 1,016 women-identifying participants, empowering them to lead the way in tech. Given out over $31,000 in prize money to Canadian students and schools
Thanks to RBC’s committed support, CanHack plans to reach even more students this year, helping them to dive deeper into the world of cybersecurity. Registrations for CanHack 2022 have officially launched and the competition will run from March 15th to March 29th.

For high school students looking to gain knowledge in cybersecurity and computer science and explore the career possibilities in the growing sectors, click here for more information and register today!

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